Series D funding supports clinical trials and commercialization of bioresorbable radiation therapy.
GT Medical Technologies has secured $37 million in a Series D financing round to propel its GammaTile system, a bioresorbable radiation therapy implant for brain tumors.
Key Highlights
- GammaTile Overview:
- FDA-cleared, bioresorbable collagen tile embedded with Cesium-131 seeds.
- Provides targeted radiation therapy directly to tumor cavities post-surgery.
- Minimizes radiation exposure to healthy tissues, unlike traditional external beam therapy.
- Clinical Trials Funded:
- ROADS study: Evaluates GammaTile for newly diagnosed brain metastases.
- GESTALT study: Focuses on patients with newly diagnosed glioblastomas (GBMs).
- Funding Details:
- Total funding now includes a $35M venture loan facility raised in September 2024.
- Led by Evidity Health Capital with participation from Accelmed Partners and existing investors, including MVM Partners and Gilde Healthcare.
- Board Expansion:
- Dr. Adam Lessler (Evidity) and Camilo Rico (Accelmed) join the board of directors.
Leadership Insight
“Since 2019, GammaTile has provided a proven, innovative option for treating operable brain tumors. This funding strengthens our ability to expand access to this life-changing technology while advancing clinical studies,” said Per Langoe, CEO of GT MedTech.
Follow MEDWIRE.AI for the latest updates on groundbreaking advancements in medical technology.
